Datastream Systems, Inc., have announced that it has been acquired by Infor after receiving regulatory approvals and satisfying the closing conditions of the transaction, which was announced in January.
With the completion of the acquisition, Datastream is 100% owned by Infor, which has been and remains a private company. The Datastream acquisition was financed through a combination of an additional capital infusion from Golden Gate Capital and Summit Partners, cash from Datastream and additional debt financing.
"This acquisition brings Infor a best-in-class enterprise asset management solution and a group of highly skilled professionals with deep knowledge of enterprise asset management best practices," said Jim Schaper, Infor's chairman and chief executive officer. "With the addition of Datastream, Infor continues to increase its depth and expertise in selected vertical markets, ensuring our ability to continually meet the specific needs of our customer base, offering an unparalleled competitive advantage for long term growth."
Datastream has provided enterprise asset management solutions to customers worldwide for 20 years. Datastream's operations will be integrated into Infor's Cross Industry Solutions Group, which will continue to support the company's products and services.
"Datastream's products are a perfect complement to Infor's existing solutions. Together, we will provide customers with the industry's most comprehensive and effective solutions to address their evolving business requirements," said Robin Pederson, executive vice president of Infor's Business Group Operations. "The acquisition of Datastream is consistent with our strategy of assembling and innovating solutions designed specifically to help our customers attain more value from their ERP systems, maximise performance of their assets, and successfully compete in a global economy."
With the acquisition, Datastream also extends its global reach through Infor's strong affiliate and partner network. Datastream complements Infor's existing direct and indirect sales channels, enabling Infor to present a broader, deeper product offering, additional global distribution, and increased implementation capability and expansion opportunities to organisations throughout the world.